Latest news with #Veranova
Fibre2Fashion
6 days ago
- Business
- Fibre2Fashion
Veranova invests $50 mn+ in ADC bioconjugation at Devens
Veranova, a global leader in the development and manufacturing of specialist and complex active pharmaceutical ingredients (APIs) for the pharmaceutical and biotech sectors, today announced a strategic investment to establish state-of-the-art bioconjugation development and cGMP manufacturing capacity at its Devens, Massachusetts campus. Veranova is investing over $50 million to add bioconjugation development and cGMP manufacturing at its Devens, MA site, creating up to 70 jobs. The expansion, set for June 2026, will support ADCs and other bioconjugates, addressing rising demand for US-based biomanufacturing. It builds on Devens' expertise in complex synthesis and linker-payload production. This expansion will enable Veranova to provide a more comprehensive suite of services to partners developing antibody-drug conjugates (ADCs) and other bioconjugates, and builds on the Devens facility's extensive experience in the development and clinical and commercial manufacture of ADC linker-payloads. Combined with a previously announced expansion of high-potent synthesis capacity in Devens, this will represent a more than $50 million investment into the site's capabilities for ADCs and other bioconjugates and will create up to 70 new jobs. The new capacity is planned to come online in June 2026. The investment also addresses increasing demand for strong U.S.-based biomanufacturing capabilities and will help U.S.-based customers secure domestic supply chains for critical drug substances. The bioconjugation expansion will include new process and analytical development laboratories, grade C cleanroom space, development and cGMP equipment and instrumentation, and supporting infrastructure. These capabilities will support up to kilogram-scale manufacturing of potent and non-potent bioconjugates. 'We continue to see ADCs and other conjugated molecules as a key growth area as our customers look to develop more targeted therapies,' said Mike Riley, CEO of Veranova. 'This investment will build on our core capabilities in complex chemistry, analytics and linker-payload synthesis, and leverage our strategically located cGMP infrastructure to provide a differentiated solution to our customers.' The Devens site is a key location in Veranova's global manufacturing network, situated in close proximity to the Boston-Cambridge biotechnology hub. The site has over 15 years of experience in the development and manufacture of linker-payloads and other complex synthetic molecules supported by expertise in complex synthesis, analytical development and testing, high potent handling, crystallization development, and chromatography purification. Veranova Devens is an FDA-approved facility with capabilities spanning early process and analytical development, scale-up, and clinical and commercial manufacturing under one roof. Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged. Fibre2Fashion News Desk (HU)
Shafaq News
06-02-2025
- Business
- Shafaq News
GE boosts Iraq's power grid ahead of 2025 summer
Shafaq News/ Iraq's Ministry of Electricity and General Electirc (Veranova) announced on Wednesday the completion of extensive upgrades at several major power plants, boosting the performance and efficiency of existing generation units in preparation for the summer season. The projects are part of the Ministry's efforts to modernize the country's electrical infrastructure, enhance grid stability, and meet rising energy demand, aligning with Iraq's strategy to secure more electricity, transition to more sustainable energy, and reduce carbon emissions. A ministry's statement revealed that one of the projects involved upgrading 46 gas turbines across 12 power plants, which will add more than 500 megawatts to the national grid by the summer of 2025. These upgrades are expected to enhance operational flexibility and significantly improve generation efficiency. The plants undergoing the upgrades include those in Nineveh, Diwaniya, Hillah, Karbala, Shatt al-Basra, Najibiya, Samawah, Dhi Qar, Khairat, and Hilla, where operations have been switched from heavy fuel oil to natural gas. This conversion has already contributed an additional 260 megawatts of generation capacity, with further maintenance and updates at other plants expected to add another 250 megawatts by summer 2025. In another project, the Ministry confirmed the completion of advanced hot gas path (AGP) upgrades on E9 gas turbines at the Quds, Dhi Qar, and Qayyarah plants, and the MXLII upgrade at the Al-Mansouriya plant on 13E2 gas turbines. These updates are expected to increase generation capacity by up to 6% per plant, allowing for more energy production with the same amount of fuel. The Ministry also noted that GE (Veranova) had completed a range of comprehensive maintenance projects to ensure the readiness of approximately 3.7 gigawatts at key plants, such as Qayyarah, Diwaniya, Al-Hadriyah, and South Baghdad. These projects are part of previously announced five-year service and upgrade agreements aimed at ensuring the long-term stability and readiness of Iraq's national grid. Iraq's Minister of Electricity, Ziad Ali Fadel, stated, 'These diverse and comprehensive projects represent a pivotal step towards enhancing the electricity sector's capabilities in Iraq, particularly during peak seasons.' Joseph Anis, CEO of GE (Veranova) for Europe, the Middle East, and Africa, noted that the successful completion of these projects on schedule is contributing to the efficiency and sustainability of the generation units in line with the Iraqi government's energy sector vision. Earlier in 2024, GE Veranova announced the early completion of six 132-kilovolt electrical substations, with the last, the Rusafa Central substation, completed on November 18, 2024, more than two months ahead of schedule. In April 2024, the Iraqi government and GE Veranova signed memorandums of understanding, with the support of Prime Minister Mohammed Shia' al-Sudani, during his visit to the United States. Over the past decade, GE Veranova has significantly supported Iraq's electricity sector, adding 19 gigawatts to the national grid, building and operating 30 electrical substations, and contributing to the project linking Iraq's electricity grid with that of Jordan. The company also facilitated financing for energy projects exceeding $3 billion and continued to invest in training the Iraqi workforce and developing local talent.
